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Just got onto my account and looked at my results for the year so far. To figure ROI I always took it to mean I divide my total dollars won by total dollars wagered. Any number over 1.0 is showing profit and below 1.0 is a loss. It's a useful tool to me because it shows me long term if what I'm doing is working. A few months ago when a thread like this was posted I think my ROI was .81 or something close to that. Seeing that number made me do some self reflection on my wagering.
In the past couple months I've made it a point to wager on more selectively on turf routes and to pass dirt sprints I don't see value in. Also quit trying to guess on so many maiden races. Just calculated my ROI as of today and I'm at .93. Still not showing a profit for the year but certainly an improvement.
Of course as you alluded too, it's not a useful tool to tell you "absolute dollars won" although you should be able to figure thought out if you're figuring your ROI anyway.
It is interesting because a .93 ROI like myself might only mean that I'm about $1,000 in the hole, whereas someone who wagers $100,000 dollars with a .99ROI is still $1000 in the hole too, they've just spend more money to get to the same absolute dollars won/lost!
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